Tag Archives: INFLATION

Ghana has been ranked among 10 countries in the world with the highest food inflation. According to a Food Security Report by the World Bank, the country’s Nominal Food Inflation (year-on-year) of 54% placed the nation at the 8th position. It Real Food Inflation (year-on-year) of 12%, however, placed it at …

Consumer inflation has further increased to 37.2 percent in September 2022 – inching closer to the 40 percent mark last seen in the early 2000s. The annual inflation rate accelerated for the 16th straight month by 3.3 percentage points from 33.9 percent in August 2022, the highest reading since June …

The Association of Ghana Industries AGI says the recent increase in policy rate by the Bank of Ghana will further exacerbate the country’s inflation contrary to what the central bank envisaged. The Monetary Policy Committee (MPC) of the Bank of Ghana on Thursday October 5, 2022 announced increased in the Policy Rate …

The Ghana Union of Traders Association (GUTA) has served notice to the government that they will close down shops on Monday, 29th August 2022 in protest of the depreciation of the Cedi and severe economic hardship. Addressing the media on Monday August 22, 2022, the President for GUTA, Dr. Joseph …

Zimbabwe’s annual inflation has risen to more than 250% – its highest level for a year and a half. With inflation quadrupling since February, many Zimbabweans are struggling to cope. The authorities blame the after-effects of the coronavirus pandemic and the high global prices on fuel, grain and fertiliser. A …

Increasing inflation, debts and forex crisis are pushing Nigerian and other African economies to the brink, the International Monetary Fund has warned. SaharaReporters earlier reported that IMF Managing Director, Kristalina Georgieva, had said the outlook for the global economy had “darkened significantly” since April. She warned that a global recession …

Zimbabwe will start selling gold coins this month as a way to tame inflation that has weakened the local currency, the country’s central bank said. The governor of the central bank, John Mangudya, noted that the coins, known as Mosi-oa-Tunya, would be available for sale from July 25 in local …

Steve H. Hanke, a professor of applied economics at the Johns Hopkins University in Baltimore, Maryland has pegged Ghana’s inflation rate at 50%/yr, describing the status as terrible. The 79-year-old economist, Saturday, July 9, 2022, shared footage from the Arise Ghana protest, trumpeting the high cost of living in the …

The Ghana Statistical Service last week announced that inflation had jumped to 27.6% in May 2022 from 23.6% recorded in April. The drivers of this development are varied and largely driven by local products. Data from the Statistical Service show that 56.2% of the products accounting for the rise in …

Ghana’s inflation rate for May this year reached 27.6 percent from an earlier 23.6 percent recorded in April, the Ghana Statistical Service has said. The hike was attributed to prices of food and transportation costs making it the highest rate recorded in more the 18 years since 2004. Government Statistician, …